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Financial assets like the SP TSX60 Composite Index (XIU ETF) had a very ​good ​​performance indeed ​since bottoming out strongly post Brexit fears;​XIU ETF up +9.8% and only +7.7% for SPY ETF​ since then.

​​We are into a Daily Rising Wedge Technical Pattern on the XIU ETF since ​June 27 2016 ​(See First Chart Below - Blue Trendlines) ​​and now testing a MajorResistance Trendline from that Wedge that started on October 9 2015. ​Interesting to note ​​​​​a weak trading volume environment since getting near​the ​Resistance of that Wedge (See First Chart Below - Bottom - ​Blue Area)

Interesting to note that the XIU ETF is at +7.9% above the 200 DMA (Day Moving Average) (See First Chart Below - Green Line) and the SPY ETF (SP500 Index) is only +3.7% above its 200 DMA.

​​But the most interesting technical factor is that on a Relative Basis ​(XIU ETF over SPY ETF), we already broke the resistance trendline from a Major Falling Wedge that started since May 2009 (See Second Chart Below -Red Trendline) and now above the Resistance from a Falling Wedge. (See Second Chart Below - Blue Trendline)Also, we have been above the 200 DMA (Day Moving ​Average) on a relative basis since June 17 2016 as very few of us noticed . ​(See Second Chart Below - Green line -Ellipse)​.

Financials and the Energy sector are 60.3% of the XIU ETF (no typo).

​​The Canadian Stock Market is at Crossroads: At the Resistance Trendline Price Wise and at the mercy of the Financial and Energy Sectors...